Matchbook review: up to £500 cashback

Although it perhaps doesn’t have the range of services offered by larger exchanges such as Betfair, signing up to and using Matchbook is about as simple as it could be. Our Matchbook review will take you through the pros and cons of the service and highlight its main features.

Welcome Bonus: 3/5

If you’re new to Matchbook you can earn up to £500 cashback with the Matchbook bonus code MBMAX. The offer is open to all new users and works on a points system; the user receiving a point for every £1 earned in commission. A ‘treble your odds’ bonus on horse racing is also offered to new customers.

The Matchbook bonus code can be used to claim anything up to £500 when betting on the Matchbook exchange within the first five weeks of your membership. Some of the main T&C’s to remember are:

Offer applies to new customers only

Offer applies only to customers who make their first deposit via credit or debit card

Offer only applies to bets placed within 5 weeks of the date of your first bet on the Matchbook exchange

Place back or lay bets at any available odds on any number of betting markets of the Matchbook exchange within the qualifying period and, if and when you win or lose, a minimum of £100, you will be awarded 1 Matchbook point e.g. for every £5 paid in commission you will earn 1 point.

Upon signup at Matchbook, horse racing punters can also expect a welcome treat. For your first Matchbook bet, simply place a pre-race back bet on any horse racing win market at minimum odds of 1/1 (2.0) and maximum of 10/1 (11.0) and if the bet wins, you will get treble the odds.

The treble odds will be credited as bonus funds. The Matchbook bonus code used here upon signup is via the same link as above and will also include the £500 cashback offer. A minimum first deposit of £5 is required.

Betting markets: 3/5

Matchbook offers a varied range of betting markets on a host of sports, their most popular being football, horse racing, tennis, baseball and golf. Backing and laying on football markets are the best catered for with all major football leagues available to bet on including Premier League, La Liga, Bundesliga etc as well as international matches and various world leagues being covered.

Although Matchbook has markets available on various American sports, the list is not comprehensive and the platform doesn’t match up to Betfair for overall experience either. For UK punters, the horse racing book is popular and includes all the major upcoming races as well as the ‘treble your odds’ offer.

The growing trend for matching bets on tennis is something the site looks after, with coverage supplied for all major tournaments in both the men’s and women’s tours on Matchbook.

Football markets are the best on this exchange though with liquidity being very favourable versus Betfair. Markets are formed well in advance and are easier and quicker to get to grips with on Matchbook.

Odds: 4/5

One thing we are pleased about in the Matchbook review are the commission rates. Rather than applying a margin or ‘overround’ like traditional fixed odds bookmakers, exchanges like Matchbook show the price as it is and then charge a commission on bets placed once the event is settled.

Commission rates depend on the type of market, though the typical figure is 1.5% which is terrific when compared to Betfair’s usual 5%. As a promotional offer, Matchbook sometimes offer 0% commission on certain markets, especially on big events.

The Commission is charged regardless of whether your bet is successful or not, though at these lower rates those confident of success should be jumping all over this platform.

Matchbook has two different commission rates, the one you get depending on whether you accept another users offer, or whether they accept your offer. When accepting an existing offer in a market the standard commission rate will be 1.5%. If you post an offer, which another user then matches, the standard commission rate will be 0.75%.

For example, if we placed a bet of £100 on Chelsea to win at 1.60, our potential profit would be £60.00 Chelsea winning would mean that we are charged 1.5% of £60 (£0.90). Accepting odds already posted on Matchbook means paying half of this, 0.75%.

Mobile App: 3/5

The app is available across all devices for both Android and Apple customers, even on Apple Watch and iPad meaning no matter what technology you prefer, you should be able to get your bet on when you’re on the go.

A positive in the Matchbook review is that all the top football leagues are represented and the exchange’s liquidity is very good, making it a fair alternative to Betfair when betting on football. Backing and laying are made easy on the Matchbook app meaning you can do this even when you are commuting, at the game or even just lounging on the sofa.

Due to regulatory restrictions, the Matchbook app can only be accessed from certain regions. With this in mind, ‘location services’ will need to be switched on when using the app. A 3G or 4G signal (if not on WiFi) will be needed to download the app onto mobile phones.

At present, Matchbook offer only their standard app and have no specific sign-up or other bonuses for Matchbook app or mobile users, though the standard £500 cashbook offer mentioned earlier in the Matchbook review applies. Simply sign up to a new account via the app, enter code MBMAX and opt in to receive up to £500 in cashback on your account within the first 5 weeks.

Live Betting and Streaming: 3/5

Live betting is available on Matchbook, something crucial when acting as a betting exchange. Various in-play markets are available especially on football matches though the major let down is the lack of live streaming.

Although the depth of live betting offered is not quite the same as the big boys such as Bet365 or Ladbrokes, Matchbook’s offering continues to grow and the addition of live streaming would put it right up in the top echelons.

Live betting is offered on NBA, NFL, NHL and MLB as well as on football and tennis meaning there is already a fair choice of sports to match live bets on.

Payment Options: 4/5

Payment method

Minimum deposit

Transaction fee

Processing time

Visa/Maestro (debit cards)

£5

£0

Immediate

Visa/MasterCard (credit cards)

£5

£0

Immediate

Neteller (eWallet)

£10

£0

Immediate

Skrill (eWallet)

£5

£0

Immediate

Paysafe (bank transfer)

£5

£0

Immediate

Depositing funds is simple and 24-hour customer support is available. Simply login, go to the members area and choose ‘deposit’ or ‘withdrawal’. Withdrawals to the above banking options are simple, the timeframes being.

Customer service: 3.5/5

One very slight negative in the Matchbook review was the customer service, given that they cannot be reached 24/7 on all platforms.

Contact method

Live chat

Telephone

Email

Access details

Scroll to the bottom of the home page, click ‘contact us’ then ‘live chat’

(+44) 203 642 6867

support@matchbook.com

Availability times

08.00 – 01.00 GMT

24/7

24/7

So, availability is OK without being perfect and response times are good. The service is friendly and informative, though the web page’s FAQ section will provide answers to most of the important questions without the need for an operator.

Overall rating: 3.5/5

As a fledgling exchange, Matchbook has a way to go to beat the likes of Betfair but is a very reasonable platform on which to bet. The mobile app is quick and smart to look at so in terms of its usability there can be no complaints. The welcome bonus (£500 cashback) is fair and easy to get, simply join up online and type MBMAX on the first page of the signup form.